S. Africa's economy grows by 0.5 pct in Q3-Xinhua

S. Africa's economy grows by 0.5 pct in Q3

Source: Xinhua

Editor: huaxia

2025-12-02 22:11:16

JOHANNESBURG, Dec. 2 (Xinhua) -- South Africa's real gross domestic product (GDP) grew by 0.5 percent in the third quarter of the year, marking the fourth consecutive rise in economic activity, according to a report released by Statistics South Africa on Tuesday.

Nine of the country's 10 production industries recorded improved performances in the third quarter, with mining and quarrying, agriculture, forestry and fishing, as well as trade, catering and accommodation registering the highest growth rates, the report said.

"Mining output increased by 2.3 percent, driven predominantly by platinum group metals, with support from manganese ore, coal, chromium ore and copper," it said.

After three consecutive quarters of contraction, the construction sector returned to positive territory with a marginal 0.1 percent increase.

The only industry in decline during the quarter was the electricity, gas and water sector, which fell by 2.5 percent.

Following growth of 0.1 percent in the first quarter and a revised increase of 0.9 percent in the second quarter, all three quarters of the year to date have shown continued economic expansion.

The figures come as the South African Reserve Bank forecasts GDP growth of 1.3 percent for the year, with a possible rise to 2 percent in the near term.